R.H. Investment Group LLC Makes New $5.06 Million Investment in Wells Fargo & Company (NYSE:WFC)

R.H. Investment Group LLC acquired a new stake in Wells Fargo & Company (NYSE:WFC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 71,978 shares of the financial services provider’s stock, valued at approximately $5,056,000. Wells Fargo & Company accounts for about 4.8% of R.H. Investment Group LLC’s holdings, making the stock its 7th biggest position.

A number of other hedge funds have also recently modified their holdings of WFC. Income Research & Management purchased a new position in Wells Fargo & Company in the third quarter valued at $211,000. Mattson Financial Services LLC acquired a new stake in shares of Wells Fargo & Company during the 2nd quarter valued at about $25,000. Modus Advisors LLC purchased a new position in shares of Wells Fargo & Company in the 4th quarter valued at about $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Wells Fargo & Company in the 2nd quarter worth about $26,000. Finally, Truvestments Capital LLC purchased a new position in Wells Fargo & Company during the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

Wall Street Analysts Forecast Growth

WFC has been the topic of a number of recent analyst reports. Morgan Stanley decreased their target price on Wells Fargo & Company from $68.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. The Goldman Sachs Group increased their price objective on shares of Wells Fargo & Company from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, December 6th. Citigroup boosted their target price on shares of Wells Fargo & Company from $67.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 19th. UBS Group raised their price target on shares of Wells Fargo & Company from $69.00 to $85.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Finally, Compass Point boosted their price objective on Wells Fargo & Company from $60.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.92.

Wells Fargo & Company Stock Up 0.8 %

Shares of NYSE WFC opened at $71.07 on Wednesday. The company has a market capitalization of $236.63 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.47 and a beta of 1.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.85 and a quick ratio of 0.85. The company has a 50 day simple moving average of $72.41 and a 200-day simple moving average of $63.15. Wells Fargo & Company has a 1 year low of $46.12 and a 1 year high of $78.13.

Wells Fargo & Company Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Shareholders of record on Friday, November 8th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, November 8th. This represents a $1.60 annualized dividend and a yield of 2.25%. Wells Fargo & Company’s dividend payout ratio (DPR) is 33.26%.

About Wells Fargo & Company

Wells Fargo & Company, a financial services company, provides diversified banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally. The company operates through four segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.